Moderna(US:MRNA)2025-11-06 13:00Financial Performance - Moderna's 3Q25 revenue was approximately $1.0 billion[7], with total revenue for the first three quarters of 2025 reaching approximately $1.3 billion[13] - The company experienced a net loss of $0.2 billion in 3Q25[8] - Operating expenses decreased by 34%, a reduction of $656 million, from 3Q24 to 3Q25[8] - Cash and investments stood at $6.6 billion as of September 30, 2025[8], a decrease of $0.9 billion or 12% compared to June 30, 2025[19] Revenue Outlook - The projected total revenue for FY 2025 is expected to be in the range of $1.6 billion to $2.0 billion[15] - Expected 4Q revenue from U S is projected between $0.1 billion and $0.4 billion[15] - Expected 4Q revenue from RoW (Rest of World) is projected between $0.3 billion and $0.4 billion[15] Cost Management - The company anticipates a $0.5 billion improvement in 2025 projected cash costs compared to the 2Q25 projection, and a $0.9 billion improvement compared to the January 2025 projection[11] - Moderna is ahead of plan on cash cost reduction, with a $0.9 billion improvement in the 2025 projection year-to-date[49] - The company is increasing its ending 2025 cash range to $6.5 billion - $7.0 billion, up by $0.5 billion - $1.0 billion from the prior framework[49] Product Development - The updated 2025-26 formula for Spikevax has been approved in 40 countries[9, 35] - mRESVIA has been approved in 40 countries for adults 60 years and older, and also approved in 31 of those countries for high-risk adults aged 18-59[10, 35]